Can I have a demand draft without any bank account? | Homework.Study.com (2024)

Humanities

Question:

Can I have a demand draft without any bank account?

Demand draft:

A demand draft, also known as a DD is a negotiable instrument issued by a financial institution. The negotiable instrument guarantees payment and gives the name of the payee. The bank issues the DD to the one making the payment, Directing another bank to pay a specific amount to the intended person.

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Can you have a demand draft without any bank account?

Absolutely Yes but at a limit depending with the bank, For walk-in customer's drafts are served...

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